Reports indicate that Google has agreed to invest $350 million in Flipkart, a major e-commerce company in India, acquiring a minority stake in the business valued at $37 billion. This investment is part of the latest funding round, with Walmart, the current majority shareholder of Flipkart, leading the investment with an estimated $600 million.
Flipkart has confirmed Google’s participation in the investment but has not confirmed the reported valuation figures. According to Flipkart, Google’s investment will enable the company to collaborate on cloud services to support business expansion and enhance digital infrastructure for internal operations and nationwide customers.
Source: Reuters and Flipkart
TLDR: Google agrees to invest $350 million in Flipkart, enhancing collaboration on cloud services and digital infrastructure.
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